Shares of Fino Payments Bank zoomed close to 9% to INR 227.45 during the intraday trading on the BSE today. The uptick came after the bank, which is currently in the process of converting into a small finance bank (SFB), said that the RBI has approved the reappointment of Rishi Gupta as its MD and CEO for a period of three years, with effect from May 2, 2026.

Gupta, a chartered accountant, was part of the founding team of Fino Payments Bank, helming finance and corporate functions as its CFO since 2006. He took up the role of COO in 2013 before taking up the MD and CEO position in 2015. He has been at the helm since then.

“One of the key achievements of Rishi Gupta is to inculcate the compliance culture in the bank. As part of a robust compliance system, banks are required to have an effective compliance culture, an independent corporate compliance function and a strong compliance risk management programme at the bank. He has been instrumental in ensuring that the bank functions within regulations, thus preserving its integrity and reputation in the industry,” Fino Payments Bank said.

Despite the uptick in the company’s share prices today, it is pertinent to note that the Bank’s stock is down about 12% so far this month.

The reappointment improved investor confidence as it removed leadership uncertainty at a critical juncture for the bank which is in the process of transitioning into a SFB.

In December last year, the central bank gave Fino Payments Bank an in-principle nod to convert into a SFB, becoming the first payments bank to do so.

The regulatory clearance came after a year marked by multiple compliance actions against the bank.

The conversion will allow Fino Payments Bank to offer lending, increase deposit limits, and expand to 100-120 new branches. The bank intends to focus on secured lending, AI-driven operations, and leveraging its existing merchant network to further drive its business as an SFB.

Fino Payments Bank is scheduled to report its financials for the December quarter of 2025 (Q3 FY26) tomorrow. The company’s net profit declined 28% YoY to INR 15.3 Cr in Q2 FY26, dragged down largely by higher tax expense. Income from interest rose 26% to INR 60.1 Cr from INR 47.7 Cr in Q2 FY25.

Shares of the bank were trading 8.70% higher at INR 226.85 on the BSE at 15:15 IST.

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